Which of the Following Is True Regarding Fiduciary Funds

question 113

Multiple Choice

Which of the following is true regarding fiduciary funds?

• A) Fiduciary funds use the economic resources measurement focus and accrual accounting.
• B) Fiduciary funds include pension and other employee benefit) trust, investment trust, agency, and permanent funds.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Transporter

A transporter refers to an individual or service that moves goods or people from one location to another.

Voidable

Refers to a contract that may appear valid but can be legally declared void at the option of one of the parties.

N.S.F.

Stands for "Non-Sufficient Funds," indicating that a bank account does not have enough balance to cover a transaction.

Antique Desk

A desk of old age valued for its historical significance, craftsmanship, or rarity.